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MANILA - Lafarge Republic Inc. has signed up Masinloc Power Partners Co. Ltd. to provide the cement-maker electricity for the next five years.
In a disclosure to the Philippine Stock Exchange, Lafarge said Masinloc Power's 600-megawatt coal plant in Masinloc, Zambales will supply the cement-maker starting December 26, 2012.
Terms and conditions of the deal were not disclosed although securing power supply from the coal plant would allow Lafarge to benefit from one of the cheapest baseload sources of electricity in Luzon. As a baseload plant, Masinloc can provide power 24/7.
Lafarge's cement plans are located in the provinces of Bulacan, Batangas and Rizal.
Masinloc Power is the local unit of US-based AES Corp., which acquired the Masinloc coal plant from state-owned National Power Corp. in 2007.
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